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Note 17 - Subsequent Events | 6 Months Ended
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Jun. 30, 2021
Notes to Financial Statements |
Subsequent Events [Text Block] | 17. Subsequent events On August 9, 2021, we entered into an Agreement and Plan of Merger (the “Sexton Agreement”) by and between us, BLFS Merger Sub, Inc., a Delaware corporation (“Sexton Merger Sub”), and Sexton Biotechnologies, Inc. (“Sexton”) pursuant to which Sexton Merger Sub will merge with and into Sexton, with Sexton continuing as the surviving entity and a wholly-owned subsidiary of the Company (the “Sexton Merger”). The total consideration to be paid in common shares by us to the stockholders of Sexton at the closing will be $30 million, 10% of which will be held in escrow to serve as source of payment for post-closing indemnification claims. The closing of the Sexton Merger is subject to various customary closing conditions, including the approval of Sexton’s stockholders, and may be terminated by mutual agreement, for the other party’s uncured material breach, or if there is a government order preventing the closing, among other reasons. There is no assurance that the Sexton Merger will close or that, if the Sexton Merger does close, it will be successful or that Sexton will be, or will remain, profitable.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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